As of January 25, total iron ore inventory at 30 major Chinese ports amounted to 70.1 million mt, down 550,000 mt week on week and constituting the third consecutive week-on-week decrease, according to China’s National Bureau of Statistics. Meanwhile, the total iron ore inventory on the given date was 28.31 million mt lower compared to the same time last year.
As of January 25, at Chinese ports inventories of iron ore from India and Brazil decreased by 290,000 mt and 380,000 mt respectively, while inventory of Austrialian origin iron ore increased by 90,000 mt, all on week-on-week basis.